FY2024 - TENTATIVE CONSOLIDATED BUDGET (as of 05-02-2023)

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Agenda Item

e. Tentative Budget/Revenue Projections and Tax Levy for FY2024 - Updated May 4, 2023

Summary: Presented by: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance
Request: It is requested that the Board of Education approve the Tentative Budget/Revenue Budget Projections and Tentative Tax Levy for FY2024.
Details: The presentation includes a summary of the estimated revenues and budgeted expenditures for the major funds including the preliminary operating general fund budget, special revenue, enterprise, capital outlay funds.
Contact: Mr. Byron Schueneman, Chief Financial Officer, Division of Finance, 678.676.0278
Status: General Counsel approval not required.
                                                             ALL FUNDS - TENTATIVE BUDGET FOR
                                                            DEKALB COUNTY BOARD OF EDUCATION
                                                             JULY 1, 2023 THROUGH JUNE 30, 2024

                                                                 General              Special              Debt         Capital         Sch.
                                                                                                                                                       Total
                                                                  (K-12)              Revenue             Service       Outlay        Nutrition
Anticipated Funds Available
   Local Revenue                                                    872,374,994            9,785,719                    151,000,000     59,817,356    1,092,978,069
   Interest                                                          13,600,000                                     0                                    13,600,000
   State Funding                                                    524,587,114           14,474,207                                             0      539,061,320
   Federal Funding                                                                        99,915,442                                    11,801,978      111,717,420
   Transfers and Other Local Funds                                    1,433,772            4,998,767                0                    2,800,000        9,232,539



   Total Revenue Anticipated                                      1,411,995,880         129,174,134                 0   151,000,000     74,419,334    1,766,589,349

            Beginning Unassigned Fund Balance                       288,000,000                                         424,679,138     29,226,079     741,905,217
        Beginning Assigned Fund Balance (Gold)                       45,000,000                                                                         45,000,000
   Beginning Fund Balance 7/1/2023 *                                333,000,000                     0               0   424,679,138     29,226,079     786,905,217

   Total Funds Available                                          1,744,995,880         129,174,134                 0   575,679,138    103,645,413    2,553,494,566



Budgeted Expenditures
  Instruction                                                       814,540,654           66,203,869                                                   880,744,523
  Pupil Services                                                     90,207,141           28,744,629                                                   118,951,770
  Instructional Staff Training                                       17,401,569            2,442,635                                                    19,844,204
  Instructional Staff Services                                        1,087,907           21,712,360                                                    22,800,266
  Educational Media Services                                         16,073,394               19,375                                                    16,092,769
  Federal Grant Administration                                                             4,366,243                                                     4,366,243
  General Administration                                             61,960,683            1,047,680                                                    63,008,363
  School Administration                                              79,928,401              255,267                                                    80,183,668
  Support Services - Business                                        27,098,969                                                                         27,098,969
  Maintenance & Operations                                          219,852,987              415,346                      1,156,701                    221,425,034
  Transportation                                                     77,375,514              275,548                                                    77,651,061
  Support Services - Central                                         32,351,894              893,856                                                    33,245,750
  Other Support Services                                              3,428,743                6,500                                                     3,435,243
  School Nutrition                                                      335,000                2,500                                     74,419,334     74,756,834
  Enterprise Operations                                                  61,672            1,897,082                                                     1,958,754
  Facilities Acquisition & Construction Services                                                                        198,465,124                    198,465,124
  Transfers to Other Funds                                            8,341,294              891,245                0                                    9,232,539
  Agency                                                                                                            0             0                              0
  Debt Service                                                                                                                                                   0

   Total Expenditures                                             1,450,045,822         129,174,134                 0   199,621,825     74,419,334    1,853,261,116

              Ending Unassigned Fund Balance                        268,138,297                     0               0   376,057,313     29,226,079     673,421,689
                Ending Assigned Fund Balance                         22,500,000                                                                         22,500,000
   Ending Fund Balance 6/30/2023                                    294,950,058                     (0)             0   376,057,313     29,226,079     700,233,450



   Total Funds Allocated                                          1,744,995,880         129,174,134                 0   575,679,138    103,645,413    2,553,494,566

    * NOTE: Beginning fund balance are estimates. Local tax and sales tax revenues are estimated.